Since the downturn in our Real Estate Market, Arizona Loan Modification Companies have made headlines for various Loan Modification Scams. Local TV affiliate ABC 15 reported that Governer Jan Brewer recently signed into law legislation that will force those who work in this industry to have background checks and receive 20 hours of training. According to the article, the new law will go into effect in July/2010. Click here to read the article, and make sure you watch the video as well.

When it comes to loan modifications, remember that the industry is littered with many so-called "loan-modification experts" who often end up being scam artists. I wrote a blog a few months back that explains how some of the guys are preying on homeowners that have their backs against the wall. Click here to read the blog.

Hopefully, this new law will help "weed-out" some of the bad apples that promulgate the Arizona Loan Modification industry. If you are currently considering using one of these companies, BUYER BEWARE. Do your research. You can also visit our website, where we go over some of the "red flags" to look for when deciding whether to use the services of one of these entities.

If, after doing your research, you still have questions, pick up the phone and call me.